Default in Payment of Principal of Loans and Reimbursement Obligations Sample Clauses

Default in Payment of Principal of Loans and Reimbursement Obligations. The Borrower shall default in any payment of principal of any Loan or Reimbursement Obligation when and as due (whether at maturity, by reason of acceleration or otherwise).
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Default in Payment of Principal of Loans and Reimbursement Obligations. The Borrower shall default in any payment of principal of any Loan or Reimbursement Obligation when and as due (whether at maturity, by reason of acceleration or otherwise) and such default shall continue for a period of five (5) Business Days.
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Default in Payment of Principal of Loans and Reimbursement Obligations. Any Borrower shall fail to pay any principal of any Loan or any reimbursement obligation in respect of any LC Disbursement when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise.
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Default in Payment of Principal of Loans and Reimbursement Obligations. Default in Payment of Principal of Loans and Reimbursement Obligations. The Borrower shall default in any payment of principal of any Loan or Reimbursement Obligation when and as due (whether at maturity, by reason of acceleration or otherwise); provided that, so long as an unfunded commitment remains outstanding under the Irrevocable Standby Stock Purchase Agreement in an amount sufficient to cure a default under this Section 12.1(a), the Borrower may cure any default under this Section 12.1(a) if, within five (5) Business Days of the date of such default, the Borrower (i) receives Net Cash Proceeds from Equity Issuances under the Irrevocable Standby Stock Purchase Agreement in an amount equal to or greater than the amount necessary to cure such default and (ii) pays to the Administrative Agent, for the benefit of the Lenders pursuant to, and in accordance, with Section 5.4, the applicable amount of such Net Cash Proceeds.
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Default in Payment of Principal of Loans and Reimbursement Obligations. The Borrower shall default in any payment of principal of any Loan or the Note or Reimbursement Obligation when and as due (whether at maturity, by reason of acceleration or otherwise).
Sample 1

Related to Default in Payment of Principal of Loans and Reimbursement Obligations

  • Repayment of Principal Except as otherwise provided herein, the Company will repay the outstanding principal amount of this Note within fourteen (14) Business Days of the Offering Funding Date (the “Maturity Date”). This Note does not bear interest. At the option of the Lender, funds available for repayment of the loan may be held in a Company account, interest free, after the Maturity Date. Such funds shall not be used or otherwise pledged until such time as the Company and Lender have entered into another note.

  • Payment of Principal, Interest and Other Amounts The Trust will duly and punctually pay the principal of and interest, Additional Interest Amounts and Make-Whole Payments, if any, on the Notes according to the terms of the Notes and this Indenture. Amounts withheld under the Code or State or local tax law by any Person from a payment to a Noteholder will be considered as having been paid by the Trust to the Noteholder.

  • Default in Payment Any payment not made within ten (10) business days after it is due in accordance with this Agreement shall thereafter bear interest, compounded annually, at the prime rate in effect from time to time at Citibank, N.A., or any successor thereto. Such interest shall be payable at the same time as the corresponding payment is payable.

  • Payment of Principal Premium, if any, and Interest; Interest on Overdue Principal; Principal, Premium, if any, and Interest Rights Preserved.

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